Cynthia Tregillis Sells 308 Shares of Western Digital (NASDAQ:WDC) Stock

Western Digital Corporation (NASDAQ:WDC) insider Cynthia Tregillis sold 308 shares of the stock in a transaction dated Friday, May 22nd. The stock was sold at an average price of $488.61, for a total transaction of $150,491.88. Following the transaction, the insider directly owned 118,135 shares of the company’s stock, valued at $57,721,942.35. This represents a 0.26% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan.

Western Digital Stock Up 1.1%

WDC stock traded up $5.95 on Wednesday, reaching $530.60. 6,260,029 shares of the company’s stock were exchanged, compared to its average volume of 9,004,754. The stock has a fifty day moving average of $382.53 and a 200-day moving average of $274.09. The firm has a market cap of $182.89 billion, a PE ratio of 31.68 and a beta of 2.10. Western Digital Corporation has a twelve month low of $51.17 and a twelve month high of $546.68.

Western Digital (NASDAQ:WDC) last announced its quarterly earnings results on Thursday, April 30th. The data storage provider reported $2.72 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.39 by $0.33. The business had revenue of $3.34 billion during the quarter, compared to the consensus estimate of $3.25 billion. Western Digital had a net margin of 55.29% and a return on equity of 42.95%. The business’s revenue was up 45.5% compared to the same quarter last year. During the same quarter last year, the firm posted $1.36 EPS. Western Digital has set its Q4 2026 guidance at 3.100-3.400 EPS. On average, equities research analysts predict that Western Digital Corporation will post 9.57 EPS for the current fiscal year.

Western Digital Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, June 17th. Investors of record on Friday, June 5th will be given a dividend of $0.15 per share. The ex-dividend date is Friday, June 5th. This represents a $0.60 annualized dividend and a dividend yield of 0.1%. This is an increase from Western Digital’s previous quarterly dividend of $0.13. Western Digital’s payout ratio is presently 3.58%.

More Western Digital News

Here are the key news stories impacting Western Digital this week:

• Positive Sentiment: Evercore ISI raised its price target on Western Digital and called the stock “underappreciated,” arguing that AI infrastructure demand should support hard disk drive growth at more than 25% annually for years. Hard Disk Drives Are Critical for AI but Western Digital Stock Is Still Underappreciated Here
• Positive Sentiment: Multiple articles highlighted Western Digital as a beneficiary of the broader “memory melt-up,” with Micron’s surge and the memory shortage improving pricing visibility and free cash flow prospects across the storage sector. Micron’s $1 Trillion Memory Melt-Up
• Positive Sentiment: Analyst commentary and comparison pieces favored Western Digital as a steadier data infrastructure play, citing its scale, AI-linked growth, and stronger profitability versus turnaround stories in the space. WDC vs. QMCO: Which Data Infrastructure Stock to Bet On?
• Neutral Sentiment: Western Digital was also mentioned in broader market coverage about tech strength and rising investor attention, reinforcing momentum but adding little company-specific new information. Stocks Rise Pre-Bell Amid Tech Rally; Middle East Uncertainty Persists
• Negative Sentiment: One article noted that Western Digital insiders sold about $18 million of stock, which may slightly temper enthusiasm even though insider sales do not necessarily signal a change in fundamentals. Western Digital Insiders Sold US$18m Of Shares Suggesting Hesitancy

Hedge Funds Weigh In On Western Digital

Institutional investors have recently added to or reduced their stakes in the business. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in Western Digital by 7.7% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 41,988 shares of the data storage provider’s stock worth $1,698,000 after buying an additional 3,019 shares during the period. Geneos Wealth Management Inc. increased its stake in shares of Western Digital by 229.7% during the 1st quarter. Geneos Wealth Management Inc. now owns 1,388 shares of the data storage provider’s stock valued at $56,000 after acquiring an additional 967 shares during the last quarter. Sivia Capital Partners LLC purchased a new position in shares of Western Digital during the 2nd quarter worth about $307,000. Cresset Asset Management LLC purchased a new position in shares of Western Digital during the 2nd quarter worth about $292,000. Finally, Federated Hermes Inc. boosted its position in shares of Western Digital by 55.3% in the second quarter. Federated Hermes Inc. now owns 2,374 shares of the data storage provider’s stock worth $152,000 after acquiring an additional 845 shares during the last quarter. 92.51% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

WDC has been the subject of several recent research reports. Bank of America raised their price target on Western Digital to $495.00 and gave the stock a “buy” rating in a research report on Monday, April 27th. Morgan Stanley reaffirmed an “overweight” rating and set a $488.00 price objective on shares of Western Digital in a research note on Friday, May 1st. Sanford C. Bernstein upgraded Western Digital from a “market perform” rating to an “outperform” rating and set a $340.00 price objective for the company in a research report on Tuesday, March 31st. Barclays boosted their target price on shares of Western Digital to $620.00 and gave the company an “overweight” rating in a research note on Wednesday. Finally, Mizuho set a $470.00 price target on shares of Western Digital in a research note on Friday, May 1st. One investment analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating and three have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $413.50.

About Western Digital

Western Digital Corporation is a global data storage company that designs, manufactures and sells a broad range of storage devices and systems for personal, enterprise and cloud applications. Headquartered in San Jose, California, the company develops hard disk drives (HDDs), solid-state drives (SSDs), NAND flash components and finished storage products used in PCs, external storage, servers, network-attached storage (NAS) and embedded systems.

Its product portfolio spans consumer and commercial markets, including internal and external HDDs and SSDs, removable flash memory products and storage platforms for data center and enterprise environments.